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on Technology and Industrial Dynamics |
| By: | Alberto Galasso; Mark Schankerman; Carlos J. Serrano |
| Abstract: | We study how the market for innovation affects enforcement of patent rights. Conventional wisdom associates the gains from trade with comparative advantage in manufacturing or marketing. We show that these gains imply that patent transactions should increase litigation risk. We identify a new source of gains from trade, comparative advantage in patent enforcement, and show that transactions driven by this motive should reduce litigation. Using data on trade and litigation of individually-owned patents in the U.S., we exploit variation in capital gains tax rates as an instrument to identify the causal effect of trade on litigation. We find that taxes strongly affect patent transactions, and that reallocation of patent rights reduces litigation risk, on average. The impact of trade on litigation is heterogeneous, however. Patents with larger potential gains from trade are more likely to change ownership, suggesting that the market for innovation is efficient. We also show that the impact of trade on litigation depends on characteristics of the transactions. |
| Keywords: | patents, litigation, market for innovation, capital gains taxation |
| JEL: | K41 H24 O32 O34 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1072&r=tid |
| By: | Lucio Cassia; Tommaso Minola; Stefano Paleari |
| Abstract: | The objective of this article is to analyze the relationship between entrepreneurship and change in technological domains, with the focus on possible causal relations in both directions. It aims at investigating how technological changes generate opportunities that entrepreneurs or entrepreneurial organizations can properly exploit, and shedding light on how entrepreneurial behavior can be a promoter of change in both technology-intensive and technology-adopting businesses. Finally, we contribute to the literature on technology entrepreneurship by suggesting an explicit theoretical relationship between innovation dynamics (or techniques) and the entrepreneurial behavior of firms. |
| Keywords: | technology entrepreneurship, technological change, knowledge-base innovation, entrepreneurial orientation |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:brh:wpaper:1103&r=tid |
| By: | Andersson, Martin (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Thulin, Per (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | Schumpeter claimed the entrepreneur to be instrumental for creative destruction and industrial dynamics. Entrepreneurial entry serves to transform and revitalize industries, thereby enhancing their competiveness. This paper investigates if entry of new firms influences productivity amongst incumbent firms, and the extent to which altered productivity can be attributed sector and time specific effects. Implementing a unique dataset we estimate a firm-level production function in which the productivity of incumbent firms is modeled as a function of firm attributes and regional entrepreneurship activity. The analysis finds support for positive productivity effects of entrepreneurship on incumbent firms, albeit the effect varies over time, what we refer to as a delayed entry effect. An immediate negative influence on productivity is followed by a positive effect several years after the initial entry. Moreover, the productivity of incumbent firms in services sectors appears to be more responsive to regional entrepreneurship, as compared to the productivity of manufacturing firms. |
| Keywords: | entrepreneurship; entry; business turbulence; incumbent firms; productivity; region; business dynamics |
| JEL: | D20 L10 L26 O31 R11 |
| Date: | 2011–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0256&r=tid |